In business parlance, the term startup refers to a business venture in the initial stages of operations and focuses on a single product or service that its founders are keen to bring to the market. Instead of a fully developed business model, a startup generally has a scalable business model. Hence, a startup is young, collaborative, and innovative and nurtures ambitious growth aspirations. Furthermore, a startup has fewer employees than a large and established organization, and the startup culture is significantly different from the corporate culture.
For instance, the startup culture is anti-bureaucracy, customer-centric, and prefers to hire creative, enthusiastic, and curious employees. It is more critical in a startup to have the will than the skill because the latter can be acquired along the way. Startups tend to tolerate failure to encourage research and innovativeness in business processes. Startup culture also believes in employees’ being themselves to enable them to channel their energy into passionate productivity.
Some other hallmarks of the startup culture are inclusivity, diversity, and letting employees shape the personality of the business enterprise and not the other way around. Companies with a startup culture are focused on making work feel like a game and full of fun and thus can lure talent. Hence, if business enterprises want to attract talent and flourish, they should adopt the startup culture because that is what the new generations prefer at their workplace.
Trying to force employees to conform to outdated practices will make them bide their time until they find the right opportunity to quit. Employees are very aware and well-informed today. They are also conscious of old psychological and persuasive techniques used by the older generations and immediately take affront to such behavior. They may not retaliate or react immediately, but they wouldn’t stick with such organizations for very long.
As every company depends on its employees and customers for success, it would be prudent for business owners to adopt the startup culture actively because that will attract more customers and help retain talented employees. The good news is that irrespective of its size, even an old and large company can reinvent itself and cultivate and nurture the startup culture to energize its employees and boost productivity. On the other hand, a newly set up enterprise may become stifled by micromanagement and traditional office conventions and procedures that don’t align with the digital age. As such, even large organizations can embrace the startup culture by encompassing the ethos that encourages creativity and originality, practices tolerance, and dispenses with inessential and counterproductive office decorum. It doesn’t in any way matter whether your company is big or small, old or new. For instance, Google, Apple, and Amazon are some of the largest organizations globally but still refer to themselves as startups, which helps them attract top-quality talent that won’t like to work at large organizations. Hence, ‘startup’ is a culture that is not dependent on the size of a company.